Common use of Protection Against Lien Claims Clause in Contracts

Protection Against Lien Claims. (a) Borrower shall pay and discharge, or cause to be paid and discharged, promptly and fully all claims for labor done and materials and services furnished in connection with the Borrowing Base Collateral, and take or cause to be taken all reasonable steps to forestall the assertion of claims of lien against the Borrowing Base Collateral or any part thereof. (b) Borrower shall obtain a lien waiver with respect to each payment by or to the Borrower and each of the various subcontractors and materialmen (and the major subcontractors and submaterialmen under them), and Lender, at any time, at its option, may require that Borrower make any payments for which disbursements are made hereunder by joint check made payable to the Borrower and the subcontractor or sub-subcontractor for whose account such payment is to be made, as joint payees. (c) Nothing herein contained shall require Borrower to pay any claims for labor, materials, or services which Borrower in good faith disputes and which Borrower, at its own expense, currently and diligently contest; provided that Borrower shall, for each such case where a notice of intent to file a lien in excess of Five Thousand Dollars ($5,000), has been filed, within thirty (30) days after the Borrower's actual receipt of notice of filing of any such claim of lien, (i) file or cause to be filed with the court in the county in which the applicable real estate is located a surety bond sufficient to release said claim of lien, or (ii) make or cause to be made a deposit of cash in the amount of 150% of the claim of lien with Lender, or (iii) deliver or cause to be delivered to Lender a specific endorsement to the Title Policy which insures Lender against any loss by reason of such claim of lien, or (iv) deliver or cause to be delivered to Lender such other assurance as may be acceptable to Lender.

Protection Against Lien Claims. (a) Borrower shall will pay and discharge, or cause to be paid and discharged, promptly and fully all claims for labor done and materials and services furnished in connection with the Borrowing Base CollateralDevelopment Work, and take or cause to be taken all reasonable steps to forestall the assertion of claims of lien against the Borrowing Base Collateral Project or any part thereof. (b) . Upon the request of Lender, Borrower shall will obtain a lien waiver with respect to each payment by or to the Borrower and each of the various subcontractors and materialmen (and the major subcontractors and submaterialmen under them), and . Lender, at any time, at its option, may require that Borrower make any payments for which disbursements are disbursement made hereunder be made by joint check made payable to the Borrower and the subcontractor or sub-subcontractor for whose account such the payment is to be made, as joint payees. (cb) Nothing herein contained shall require requires Borrower to pay any claims for labor, materials, or services which that Borrower in good faith disputes and which that Borrower, at its own expense, currently and diligently contest; contests, provided that Borrower shallthat, for each such case where a notice if the aggregate amount of intent claims filed with respect to file a lien in excess of Five Thousand Dollars (the Project exceeds $5,000), has been filed25,000, within thirty (30) days after the Borrower's ’s actual receipt of notice of filing of any such that claim of lienlien that exceeds the specified amount, Borrower must take one of the following actions with respect to all subsequent claims: (i1) file record or cause to be filed with recorded in the court in office of the recorder of the county in which the applicable real estate Project is located a surety bond sufficient to release said the claim of lien, or or (ii2) make or cause to be made a deposit with Lender of cash or a letter of credit from an issuer and in form and substance satisfactory to Lender, in the amount of 150% of the claim of lien; or (3) deliver or cause to be delivered to Lender any other assurance that may be acceptable to Lender; provided, however, that if any claim of lien with Lenderfor labor, materials or (iii) services is filed, regardless of the amount thereof, Borrower will deliver or cause to be delivered to Lender a specific endorsement to the Title Policy which that insures Lender against any loss by reason of such the claim of lien, or (iv) deliver or cause to be delivered to Lender such other assurance as may be acceptable to Lender.

Protection Against Lien Claims. (a) Borrower The Project Owner shall pay and discharge, or cause to be paid and discharged, promptly and fully all claims for labor done and materials and services furnished in connection with the Borrowing Base CollateralDevelopment Work, and take or cause to be taken all reasonable steps to forestall the assertion of claims of lien against the Borrowing Base Collateral Project or any part thereof. (b) Borrower . Upon the request of the Lender, the Project Owner shall obtain a lien waiver with respect to each payment by or to the Borrower Project Owner and each of the various subcontractors and materialmen (and the major subcontractors and submaterialmen under them), and . The Lender, at any time, at its option, may require that Borrower make any payments for which disbursements are disbursement made hereunder be made by joint check made payable to the Borrower Project Owner and the subcontractor or sub-subcontractor for whose account such payment is to be made, as joint payees. (cb) Nothing herein contained shall require Borrower the Project Owner to pay any claims for labor, materials, or services which Borrower the Project Owner in good faith disputes and which Borrowerthe Project Owner, at its own expense, currently and diligently contest; contests, provided that Borrower shallthat, for each such case where a notice in the event the aggregate amount of intent claims filed with respect to file a lien in excess of Five Thousand Dollars (the Project exceeds $5,000), has been filed25,000, within thirty (30) 30 days after the BorrowerProject Owner's actual receipt of notice of filing of any such that claim of lienlien which exceeds the specified amount, the Project Owner shall take one of the following actions with respect to all subsequent claims: (i1) file record or cause to be filed with recorded in the court in office of the recorder of the county in which the applicable real estate Project is located a surety bond sufficient to release said claim of lien, or or (ii2) make or cause to be made a deposit of cash in the amount of 150% of the claim of lien with the Lender, or ; or (iii3) deliver or cause to be delivered to the Lender a specific endorsement to the Title Policy which insures the Lender against any loss by reason of such claim of lien, or or (iv4) deliver or cause to be delivered to the Lender such other assurance as may be acceptable to the Lender.

Protection Against Lien Claims. (a) Borrower shall agrees to pay in full ------------------------------ and discharge, or cause to be paid and discharged, promptly and fully discharge all claims for labor done performed and materials material and services furnished in connection with the Borrowing Base Collateralconstruction of the Improvements, to file diligently or procure the filing of a valid Notice of Completion upon completion of construction, to file diligently or procure the filing of a Notice of Cessation upon the event of a cessation of labor on the work of improvement for a continuous period of thirty (30) days or more, and to take or cause to be taken all other reasonable steps to forestall the assertion of claims of lien either against the Borrowing Base Collateral or Property, any part thereof. (b) thereof or right or interest appurtenant thereto, or the Improvements and/or claims against the Account created pursuant to Article III hereof. Upon demand by Lender, Borrower shall obtain a lien waiver make such demands or claims upon laborers, materialmen, subcontractors and other persons who have furnished or claimed to have furnished labor, services or materials in connection with respect to each payment by or to the Borrower and each construction of the various subcontractors and materialmen (and Improvements, where said demands or claims shall, under the major subcontractors and submaterialmen laws of the State of California, require diligent assertion of lien claims under them), and Lender, at any time, at its option, may require that Borrower make any payments for which disbursements are made hereunder by joint check made payable to the Borrower and the subcontractor penalty of loss or sub-subcontractor for whose account such payment is to be made, as joint payees. (c) waiver thereof. Nothing herein contained shall require Borrower to pay any claims for labor, materials, materials or services which Borrower in good faith disputes and which Borrower, at its own expense, is currently and diligently contestcontesting; provided provided, however, that Borrower shall, for each such case where a notice of intent to file a lien in excess of Five Thousand Dollars within fifteen ($5,000), has been filed, within thirty (3015) days after the Borrower's actual receipt of notice of filing of any such claim of lienlien that is disputed or contested by Borrower, (i) file or cause to be filed with the court record in the official records of the county in which where the applicable real estate Property is located located, a surety bond pursuant to applicable California law, sufficient to release said claim of lien. Borrower agrees upon demand of Lender to defend, indemnify and hold Lender harmless from any action filed or (ii) make or cause claim asserted against Lender for any reason in connection with any such lien claim against the Account and agrees that the cost thereof to be made a deposit of cash in Borrower together with the amount of 150% of any judgment or settlement rendered in connection therewith will be an allowable charge against sums deposited in the claim of lien with Lender, or (iii) deliver or cause to be delivered to Lender a specific endorsement to the Title Policy which insures Lender against any loss by reason of such claim of lien, or (iv) deliver or cause to be delivered to Lender such other assurance as may be acceptable to LenderAccount described in Article III below.

Protection Against Lien Claims. (a) Borrower shall pay and discharge, or cause to be paid and discharged, promptly and fully all claims for labor done and materials and services furnished in connection with the Borrowing Base CollateralDevelopment Work and Construction Improvements, and take or cause to be taken all reasonable steps to forestall the assertion of claims of lien against the Borrowing Base Collateral Project or any part thereof. (b) . Borrower shall obtain a lien waiver with respect to each payment by or to the Borrower and each of the various subcontractors and materialmen (and the major subcontractors and submaterialmen under them), and Lender, at any time, at its option, may require that Borrower make any payments for which disbursements are made hereunder by joint check made payable to the Borrower and the subcontractor or sub-subcontractor for whose account such payment is to be made, as joint payees. (cb) Nothing herein contained shall require Borrower to pay any claims for labor, materials, or services which Borrower in good faith disputes and which Borrower, at its own expense, currently and diligently contest; , provided that Borrower shall, for each such case where a notice claim of intent to file a lien in excess of Twenty-Five Thousand Dollars ($5,00025,000), has been filed, within thirty (30) days after the Borrower's actual receipt of notice of filing of any such claim of lien, (i) file record or cause to be filed with the court recorded in the county in which office of the applicable real estate is located recorder of Lake County a surety bond sufficient to release said claim of lien, or (ii) make or cause to be made a deposit of cash in the amount of 150% of the claim of lien with Lender, or (iii) deliver or cause to be delivered to Lender a specific endorsement to the Title Policy which insures Lender against any loss by reason of such claim of lien, or (iv) deliver or cause to be delivered to Lender such other assurance as may be acceptable to Lender; provided however, that in the event the aggregate amount of claims filed with respect to the Project exceeds Fifty Thousand Dollars ($50,000), Borrower shall be required to take one of the actions specified in (i) through (iv) above with respect to subsequent claims.

Protection Against Lien Claims. (a) Borrower shall pay and discharge, or cause to be paid and discharged, promptly and fully all claims for labor done and materials and services furnished in connection with the Borrowing Base CollateralDevelopment Work and the Homes for each Project, and take or Amended and Restated Loan Agreement – Xxxxxxx Xxxx Homes, Inc. cause to be taken all reasonable steps to forestall the assertion of claims of lien against the Borrowing Base Collateral each such Project or any part thereof. (b) . Upon the request of the Lender, Borrower shall obtain a lien waiver with respect to each payment by or to the Borrower and each of the various subcontractors and materialmen (and the major subcontractors and submaterialmen under them)) for each Project, and Lender, at any time, at its option, may require that Borrower make any payments for which disbursements are made hereunder by joint check made payable to the Borrower and the subcontractor or sub-subcontractor for whose account such payment is to be made, as joint payees. (cb) Nothing herein contained shall require Borrower to pay any claims for labor, materials, or services which Borrower in good faith disputes and which Borrower, at its own expense, currently and diligently contest; contests, provided that Borrower shallthat, for each such case where a notice claim of intent to file a lien in excess of Five Thousand Dollars ($5,000), ) has been filed, within thirty (30) days after the Borrower's ’s actual receipt of notice of filing of any such claim of lien, the Borrower shall take one of the following actions with respect to such claim of lien: (i1) file record or cause to be filed with the court recorded in the county in which office of the recorder of the applicable real estate county where such Project is located a surety bond sufficient to release said claim of lien, or (ii2) make or cause to be made a deposit of cash in the amount of 150% of the claim of lien with Lender, ; or (iii3) deliver or cause to be delivered to Lender a specific endorsement to the Title Policy which insures Lender against any loss by reason of such claim of lien, or (iv4) deliver or cause to be delivered to Lender such other assurance as may be acceptable to Lender; provided, however, that in the event the aggregate amount of claims filed with respect to a Project exceeds Twenty-Five Thousand Dollars ($25,000), Borrower shall be required to take one of the actions specified in (1) through (4) with respect to all subsequent claims for such Project, regardless of amount.

Protection Against Lien Claims. (a) Borrower The Project Owner shall pay and discharge, or cause to be paid and discharged, promptly and fully all claims for labor done and materials and services furnished in connection with the Borrowing Base CollateralDevelopment Work, and take or cause to be taken all reasonable steps to forestall the assertion of claims of lien against the Borrowing Base Collateral Project or any part thereof. (b) Borrower . Upon the request of the Lender, the Project Owner shall obtain a lien waiver with respect to each payment by or to the Borrower Project Owner and each of the various subcontractors and materialmen (and the major subcontractors and submaterialmen under them), and . Lender, at any time, at its option, may require that Borrower make any payments for which disbursements are disbursement made hereunder be made by joint check made payable to the Borrower Project Owner and the subcontractor or sub-subcontractor for whose account such payment is to be made, as joint payees. (cb) Nothing herein contained shall require Borrower the Project Owner to pay any claims for labor, materials, or services which Borrower the Project Owner in good faith disputes and which Borrowerthe Project Owner, at its own expense, currently and diligently contest; contests, provided that Borrower shallthat, for each such case where a notice in the event the aggregate amount of intent claims filed with respect to file a lien in excess of Five Thousand Dollars (the Project exceeds $5,000), has been filed25,000, within thirty (30) 30 days after the BorrowerProject Owner's actual receipt of notice of filing of any such that claim of lienlien which exceeds the specified amount, the Project Owner shall take one of the following actions with respect to all subsequent claims: (i1) file record or cause to be filed with the court recorded in the county office of the recorder of the County in which the applicable real estate Project is located a surety bond or other security sufficient to release said claim of lien, or or (ii2) make or cause to be made a deposit of cash in the amount of 150% of the claim of lien with the Lender, or ; or (iii3) deliver or cause to be delivered to Lender a specific endorsement to the Title Policy which insures the Lender against any loss by reason of such claim of lien, or or (iv4) deliver or cause to be delivered to the Lender such other assurance as may be acceptable to the Lender.

Protection Against Lien Claims. (a) Borrower shall agrees to pay and discharge, or cause to be paid and discharged, discharge promptly and fully all claims for labor done and materials and services furnished in connection with the Borrowing Base CollateralWork, diligently to file or produce the filing of a valid Notice of Completion on completion of the Work, diligently to file or procure the filing of a Notice of Cessation in the event of a cessation of labor on the Work for a continuous period of (30) days or more, and to take or cause to be taken all other reasonable steps to forestall the assertion of claims of lien against the Borrowing Base Collateral Property or any part thereof. (b) of it. Borrower shall will require the general contractor to obtain a lien waiver with respect to each payment by or to the Borrower general contractor and each of the various subcontractors and materialmen material suppliers (and the major subcontractors and submaterialmen submaterial suppliers under them), and Lender, at any time, at its option, may require that that: (a) Borrower make any payments for which disbursements are made hereunder under this Agreement by joint check made payable to the Borrower general contractor and the subcontractor or sub-subcontractor for whose account such the payment is to be made, as joint payees. ; or (cb) all contractors, material suppliers, and laborers employed in connection with the Work will be paid directly by disbursement on a form or order approved by Lender and countersigned by Borrower. Nothing herein contained shall here will require Borrower to pay any claims for labor, materials, or services which that Borrower in good faith disputes and which that Borrower, at its own expense, is currently and diligently contest; contesting, provided that Borrower shallwill, for in that case and in each such other case where a notice claim of intent to file a lien in excess of Five Thousand Dollars ($5,000), has been filed, within thirty ten (3010) days after the Borrower's actual receipt of notice of filing of any such claim of lien, : (i) file or cause to be filed with the court record in the county in which office of the applicable real estate Recorder of the County where the Property is located a surety bond sufficient to release said the claim of lien, or ; (ii) make or cause to be made a deposit of cash in the amount of one hundred and fifty percent (150% %) of the claim of lien with Lender, or ; (iii) deliver or cause to be delivered to Lender a specific title insurance policy endorsement to under which the Title Policy which Company insures Lender against any loss by reason of such that the claim of lien, lien is not valid; or (iv) deliver or cause to be delivered to Lender such any other assurance as may be acceptable to Lender.

Protection Against Lien Claims. (a) Borrower shall pay and discharge, or cause to be paid and discharged, promptly and fully all claims for labor done and materials and services furnished in connection with the Borrowing Base CollateralDevelopment Work, and take or cause to be taken all reasonable steps to forestall the assertion of claims of lien against the Borrowing Base Collateral Project or any part thereof. (b) . Borrower shall obtain a lien waiver with respect to each payment by or to the Borrower and each of the various subcontractors and materialmen (and the major subcontractors and submaterialmen under them), and Lender, at any time, at its option, may require that Borrower make any payments for which disbursements are made hereunder by joint check made payable to the Borrower and the subcontractor or sub-subcontractor for whose account such payment is to be made, as joint payees. (cb) Nothing herein contained shall require Borrower to pay any claims for labor, materials, or services which Borrower in good faith disputes and which Borrower, at its own expense, currently and diligently contest; , provided that Borrower shall, for each such case where a notice claim of intent to file a lien in excess of Twenty-Five Thousand Dollars ($5,00025,000), has been filed, within thirty (30) days after the Borrower's actual receipt of notice of filing of any such claim of lien, (i) file record or cause to be filed with the court recorded in the county in which office of the applicable real estate is located recorder of Ottawa County a surety bond sufficient to release said claim of lien, or (ii) make or cause to be made a deposit of cash in the amount of 150% of the claim of lien with Lender, or (iii) deliver or cause to be delivered to Lender a specific endorsement to the Title Policy which insures Lender against any loss by reason of such claim of lien, or (iv) deliver or cause to be delivered to Lender such other assurance as may be acceptable to Lender; provided however, that in the event the aggregate amount of claims filed with respect to the Project exceeds Fifty Thousand Dollars ($50,000), Borrower shall be required to take one of the actions specified in (i) through (iv) above with respect to subsequent claims.

Protection Against Lien Claims. (a) Borrower shall pay and discharge, or cause to be paid and discharged, promptly and fully all claims for labor done and materials and services furnished in connection with the Borrowing Base CollateralDevelopment Work and the Homes for each Project, and take or cause to be taken all reasonable steps to forestall the assertion of claims of lien against the Borrowing Base Collateral each such Project or any part thereof. (b) . Upon the request of the Lender, Borrower shall obtain a lien waiver with respect to each payment by or to the Borrower and each of the various subcontractors and materialmen (and the major subcontractors and submaterialmen under them)) for each Project, and Lender, at any time, at its option, may require that Borrower make any payments for which disbursements are made hereunder by joint check made payable to the Borrower and the subcontractor or sub-subcontractor for whose account such payment is to be made, as joint payees. (cb) Nothing herein contained shall require Borrower to pay any claims for labor, materials, or services which Borrower in good faith disputes and which Borrower, at its own expense, currently and diligently contest; contests, provided that Borrower shallthat, for each such case where a notice claim of intent to file a lien in excess of Five Thousand Dollars ($5,000), ) has been filed, within thirty (30) days after the Borrower's actual receipt of notice of filing of any such claim of lien, the Borrower shall take one of the following actions with respect to such claim of lien: (i1) file record or cause to be filed with the court recorded in the county in which office of the recorder of the applicable real estate county where such Project is located a surety bond sufficient to release said claim of lien, or (ii2) make or cause to be made a deposit of cash in the amount of 150% of the claim of lien with Lender, ; or (iii3) deliver or cause to be delivered to Lender a specific endorsement to the Title Policy which insures Lender against any loss by reason of such claim of lien, or (iv4) deliver or cause to be delivered to Lender such other assurance as may be acceptable to Lender; provided, however, that in the event the aggregate amount of claims filed with respect to a Project exceeds Twenty-Five Thousand Dollars ($25,000), Borrower shall be required to take one of the actions specified in (1) through (4) with respect to all subsequent claims for such Project, regardless of amount.

Protection Against Lien Claims. (a) Borrower The Project Owner shall pay and discharge, or cause to be paid and discharged, promptly and fully all claims for labor done and materials and services furnished in connection with the Borrowing Base CollateralDevelopment Work, and take or cause to be taken all reasonable steps to forestall the assertion of claims of lien against the Borrowing Base Collateral Project or any part thereof. (b) Borrower . Upon the request of the Lender, the Project Owner shall obtain a lien waiver with respect to each payment by or to the Borrower Project Owner and each of the various subcontractors and materialmen (and the major subcontractors and submaterialmen under them), and . Lender, at any time, at its option, may require that Borrower make any payments for which disbursements are disbursement made hereunder be made by joint check made payable to the Borrower Project Owner and the subcontractor or sub-subcontractor for whose account such payment is to be made, as joint payees. (cb) Nothing herein contained shall require Borrower the Project Owner to pay any claims for labor, materials, or services which Borrower the Project Owner in good faith disputes and which Borrowerthe Project Owner, at its own expense, currently and diligently contest; contests, provided that Borrower shallthat, for each such case where a notice in the event the aggregate amount of intent claims filed with respect to file a lien in excess of Five Thousand Dollars (the Project exceeds $5,000), has been filed25,000, within thirty (30) 30 days after the BorrowerProject Owner's actual receipt of notice of filing of any such that claim of lienlien which exceeds the specified amount, the Project Owner shall take one of the following actions with respect to all subsequent claims: (i1) file record or cause to be filed with the court recorded in the county office of the recorder of the County in which the applicable real estate Project is located a surety bond sufficient to release said claim of lien, or or (ii2) make or cause to be made a deposit of cash in the amount of 150% of the claim of lien with the Lender, or ; or (iii3) deliver or cause to be delivered to Lender a specific endorsement to the Title Policy which insures the Lender against any loss by reason of such claim of lien, or or (iv4) deliver or cause to be delivered to the Lender such other assurance as may be acceptable to the Lender.

Protection Against Lien Claims. (a) Borrower shall pay and discharge, or cause to be paid and discharged, promptly and fully all claims for labor done and materials and services furnished in connection with the Borrowing Base CollateralDevelopment Work and the Construction Improvements, and take or cause to be taken all reasonable steps to forestall the assertion of claims of lien against the Borrowing Base Collateral Project or any part thereof. (b) . Borrower shall obtain a lien waiver with respect to each payment by or to the Borrower and each of the various subcontractors and materialmen (and the major subcontractors and submaterialmen under them), and Lender, at any time, at its option, may require that Borrower make any payments for which disbursements are made hereunder by joint check made payable to the Borrower and the subcontractor or sub-sub- subcontractor for whose account such payment is to be made, as joint payees. (cb) Nothing herein contained shall require Borrower to pay any claims for labor, materials, or services which Borrower in good faith disputes and which Borrower, at its own expense, currently and diligently contest; , provided that Borrower shall, for each such case where a notice claim of intent to file a lien in excess of Twenty-Five Thousand Dollars ($5,00025,000), has been filed, within thirty (30) days after the Borrower's actual receipt of notice of filing of any such claim of lien, (i) file record or cause to be filed with the court recorded in the county in which office of the applicable real estate is located recorder of XxXxxxx County a surety bond sufficient to release said claim of lien, or (ii) make or cause to be made a deposit of cash in the amount of 150% of the claim of lien with Lender, or (iii) deliver or cause to be delivered to Lender a specific endorsement to the Title Policy which insures Lender against any loss by reason of such claim of lien, or (iv) deliver or cause to be delivered to Lender such other assurance as may be acceptable to Lender; provided, however, that in the event the aggregate amount of claims filed with respect to the Project exceeds Fifty Thousand Dollars ($50,000), Borrower shall be required to take one of the actions specified in (i) through (iv) above with respect to subsequent claims.